Nutanix’s (NTNX) “Buy” Rating Reiterated at Royal Bank of Canada
Royal Bank of Canada reiterated their buy rating on shares of Nutanix (NASDAQ:NTNX) in a report published on Friday morning. They currently have a $43.00 target price on the technology company’s stock.
A number of other analysts also recently weighed in on the company. Robert W. Baird lifted their price target on Nutanix from $41.00 to $45.00 and gave the company an outperform rating in a research note on Friday. Morgan Stanley lifted their price objective on Nutanix from $39.00 to $42.00 and gave the stock an equal weight rating in a report on Friday. Maxim Group reaffirmed a buy rating and set a $54.00 price objective (up from $51.00) on shares of Nutanix in a report on Friday. Wells Fargo & Co lifted their price objective on Nutanix from $43.00 to $52.00 and gave the stock an outperform rating in a report on Friday. Finally, ValuEngine raised Nutanix from a sell rating to a hold rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Nutanix presently has a consensus rating of Buy and an average price target of $37.26.
Shares of Nutanix (NTNX) opened at $39.61 on Friday. Nutanix has a 12 month low of $14.38 and a 12 month high of $39.99. The firm has a market capitalization of $6,240.00 and a P/E ratio of -18.29.
In other news, CFO Duston Williams sold 300,000 shares of Nutanix stock in a transaction on Friday, December 15th. The stock was sold at an average price of $35.36, for a total value of $10,608,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Sudheesh Nair Vadakkedath sold 40,000 shares of Nutanix stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.94, for a total value of $1,357,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,276,667 shares of company stock valued at $45,624,122. Insiders own 19.81% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Nutanix in the fourth quarter valued at $374,000. Fairfield Bush & CO. grew its position in shares of Nutanix by 11.6% in the fourth quarter. Fairfield Bush & CO. now owns 152,175 shares of the technology company’s stock valued at $5,368,000 after purchasing an additional 15,775 shares during the period. Rehmann Capital Advisory Group purchased a new stake in shares of Nutanix in the fourth quarter valued at $381,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Nutanix in the fourth quarter valued at $229,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Nutanix in the fourth quarter valued at $4,557,000. 44.23% of the stock is owned by institutional investors and hedge funds.
Nutanix Company Profile
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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